Bowlero $BOWL stock is in a strong uptrend as of November 10, 2022, as the company acquires bowling alley’s across the country.
Bowlero $BOWL Stock Technical Analysis
The stock is in a technical strong uptrend with an improving MACD and a positive money flow.
Bowlero Corp. Completes Acquisition in Wisconsin; Definitive Agreement Announced in New Jersey
On November 3, 2022, Bowlero announced it had completed the acquisition of Sabre Lanes in Wisconsin and agreed to acquire The Big Event in New Jersey. So far, in calendar year 2022, the Company has completed 13 deals and has four more in the works.
Sabre Lanes is in Menasha, Wisconsin, and features 48 lanes of bowling, event spaces that can accommodate 30-300 guests, a full kitchen, and multiple bars throughout the center.
Bowlero continues its growth on the East Coast with the upcoming acquisition of The Big Event in Cherry Hill, NJ. The Big Event is a 36-lane bowling center featuring billiards, ping-pong, shuffleboard, arcade games, and private VIP event rooms. Erlton Social Craft Bar and Kitchen is also in this center. Known for its vibrant atmosphere, unique menu, and selection of craft beers and cocktails, this dining experience is a popular spot for both residents and visitors. The completion of this acquisition is now expected to occur by the beginning of 2023.
Brett Parker, President & Chief Financial Officer of Bowlero Corp. stated, “Today’s announcement further illustrates our commitment to expansion via acquiring new locations across the country and furthering our presence opportunistically in markets such as Wisconsin and New Jersey. We look forward to welcoming these locations into our growing footprint.”
Bowlero Continues Growth in California and Iowa
On October 26, 2022, Bowlero agreed to buy Double Decker Lanes in California and Great Escape in Iowa.
Thomas Shannon, Founder & Chief Executive Offer of Bowlero stated, “We are very pleased to announce the upcoming acquisitions in California and Iowa as part of our ongoing growth initiative, bringing our total definitive agreements for Calendar 2022 to 17.”
Double Decker Lanes, located in Rohnert Park, California, will be their 46th location in the state. Double Decker Lanes is a 50-lane bowling center featuring a full-service lounge and sports bar, a banquet room for private events, arcade games, billiards, and an elite pro shop.
The acquisition of Great Escape will expand the companies footprint to two locations in the State of Iowa, the first being the recently completed acquisition of Thunderbowl in Council Bluffs. Great Escape is located in the city of Pleasant Hill, a suburb of Des Moines. It is a 24-lane bowling center with laser tag, over 50 arcade games, virtual reality, and a full-service restaurant.
“As we execute on our robust pipeline of acquisitions, we remain highly committed to our guest experience,” said Shannon. In closing, Shannon stated, “Entering a new city is an exciting moment for the company, and we are looking forward to bringing the Bowlero experience into these communities.”